Author: Conri Botha

While Discovery Bank’s new home loan product is marketed as innovative due to its personalised interest rates and shared-value banking model, it’s important to scrutinise just how different it truly is compared to traditional home loan offerings in South Africa. Here are some key points to consider: Personalised Interest Rates Traditional Approach: Many banks offer interest rates based on an applicant’s credit score and risk profile, which is already a personalised approach. Discovery’s Approach: Discovery goes a step further by offering additional discounts on interest rates if clients use other Discovery products. While this integration with their broader service portfolio…